SANTO DOMINGO.- The La Nacional Savings and Loan Association presented the results of its 2022 management, highlighting the progress made in its mortgage portfolio which during the past year continued to be the most relevant within the portfolio, with a year-end balance of RD$17,635 million, showing a growth of 13% compared to 2021.
In a press release, the entity maintains that the home acquisition loan segment continued to be its main focus, with a total portfolio of 65%, of which 27% corresponded to the Dominican diaspora.
The organization notes that it experienced positive results in important areas "thanks to the correct application of its Strategic Plan and the timely management of its leaders.".
The press release highlights the performance of the loan portfolio by risk category, noting that those with a risk rating of “A” represent 94.5% of the total portfolio, which compares favorably with the performance of the previous year.
It notes that the diversification of its credit portfolio in 2022 allowed it to continue supporting the thriving sectors of the economy such as SMEs, to whom it granted some 3,500 loans for working capital, debt consolidations and adjustments to their businesses.
It states that despite the challenges it posed for market risk management during 2022, and the increases in interest rates, resulting from the restrictive monetary policy decisions adopted by the Central Bank, the association was able to mitigate the effects and maintain a solvency ratio of 16.95%, higher than the minimum required by the regulation.
The chairman of the board of directors, Francisco E. Melo Chalas, specified that during 2022 La Nacional updated around 20 internal regulations and carried out a process of strengthening the corporate governance culture, with the vision of continuing to strengthen the foundations for the development of the entity.
During the past year, La Nacional continues to implement its financial education and inclusion strategy, which seeks to raise awareness about the importance of banking and the growth of financial knowledge in the least favored sectors, achieving to date that more than 50,000 people receive training.
